Cyclone Metals (ASX: CLE) has recovered gold specimens and nuggets of up to 712 grams from test pits at its fully-owned Nickol River Gold Project, located 10km east of Karratha in the West Pilbara.
Specimen gold within quartz veins was recovered from the first test pit within tenement M47/127, and is considered to be indicative of primary gold. The company notes that this has reinforced its confidence in future drill programs, and also may be the potential source of the eluvial gold mined from the area over the past 140 years.
Speaking on the discovery, Cyclone Metals Director Will Scott said: “It is with great pleasure I confirm that coarse gold in nugget and specimen form has been recovered from Nickol River. Work programs completed since the acquisition of the Nickol River Project are delivering positive results, that bode well for a drill program in the near future, once we have the SAM interpretation in hand from Southern Geoscience Consultants.”
“The recovery of quartz gold in the test pits is fantastic news for the Company”
Chairman Terry Donnell, added: “The recovery of quartz gold in the test pits is fantastic news for the Company. We can collate all the data and design a suitable drilling program to commence as soon as practicable given its now wet season.”
The discovery comes as part of a program of work approved by the Department of Mines, Industry, Regulation, and Safety which allowed for for 18 test pits measuring 20m x 10m x 1m deep within the tenements.
The Nickol River Project was purchased by Cyclone Metals in August 2021 and comprises seven granted mining leases, five miscellaneous licences, plus a single water licence.
The project is situated within the Karratha Terrane on the north side of the Sholl Shear Zone, near the margin of the Karratha Granodiorite. The tenements are underlain by the Roebourne Group, dominantly the peridotitic komatiite Ruth Well Formation. In addition to komatiite, the Ruth Well Formation includes komatiitic basalt, tholeiite, chert and peridotite, and dolerite sills.
Map displaying the Nickol River Project and tenementsThe immediate area surrounding and including the tenements has been explored for gold since 1889. Most recently, adjoining tenement M47/1527 was drilled by a series of owners, and alluvial gold was mined by its present owners, Artemis Resources Limited. No substantial modern exploration or drilling has been carried out.
Looking forward, Cyclone plans to capitalise on the discovery via follow-up mapping and geochemical sampling, further test pits, and drilling with complementary metal detecting in appropriate areas.
Images: Cyclone Metals Limited
